Gold IRA Eligibility: Who Can Open One?

Understanding who is eligible to open a Gold IRA is important. A Gold IRA is a self-directed individual retirement account (IRA) that holds IRS-approved physical precious metals. In most cases, any U.S. taxpayer with earned income can open and contribute to a Gold IRA, but there are rules regarding contribution limits and type of IRA.

Eligibility guidelines include:
- You must have earned income to contribute to a traditional or Roth IRA.
- There are no minimum or maximum income thresholds for opening a self-directed Gold IRA, but deductibility of contributions may be limited if you participate in an employer-sponsored plan.
- Traditional IRAs have no age limit for contributions since the SECURE Act, but individuals over age 70½ must take required minimum distributions.
- Roth IRA contributions are subject to income phase-outs, but you can still perform a rollover to a self-directed Gold IRA.

If you already have a 401(k), 403(b), TSP or other qualified retirement account, you may be eligible to roll those funds into a Gold IRA through a direct transfer. This process can be done without triggering taxes or penalties when executed properly. Choose a reputable Gold IRA custodian, open a self-directed account, and initiate a trustee-to-trustee transfer from your existing plan.

Always consult our Gold IRA Tax Rules page for contribution limits and RMD requirements, and speak with a tax advisor. For details on direct transfers and rollovers, read our Rollover Guide and explore our Custodians, Storage, and Approved Metals pages.